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Barchart
Barchart
Rich Asplund

SHOCKING: Dollar and gold prices fall on easing geopolitical risks - You Need To See This

The dollar index (DXY00) on Tuesday fell by -0.55% and posted a 1-week low. The dollar retreated Tuesday after President Trump announced a tentative ceasefire between Israel and Iran, which curbed safe-haven demand for the dollar.  Also, Tuesday's sharp rally in stocks reduced liquidity demand for the dollar. The dollar weakened further on Tuesday after an unexpected decline in the Conference Board's June US consumer confidence index.

Losses in the dollar were contained Tuesday by hawkish commentary from Fed Chair Powell, New York Fed President Williams, and Atlanta Fed President Bostic, who said they are in no hurry to cut interest rates.

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